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File #: 14-0772    Version: 1
Type: Agenda Item Status: Adopted
File created: 7/24/2014 In control: Procurement Committee
On agenda: 8/7/2014 Final action: 8/7/2014
Title: Authorization to accept initial annual rental bid for Contract 14-364-11 Proposal to Lease for 21-years approximately 5.45 acres of District real estate located at 6400 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.14 from Heartland Recycling, L.L.C. in the amount of $81,500.00
Attachments: 1. CM HLR Aerial.pdf
TRANSMITTAL LETTER FOR BOARD MEETING OF AUGUST 7, 2014
 
COMMITTEE ON PROCUREMENT
 
Mr. David St. Pierre, Executive Director
 
Title
Authorization to accept initial annual rental bid for Contract 14-364-11 Proposal to Lease for 21-years approximately 5.45 acres of District real estate located at 6400 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.14 from Heartland Recycling, L.L.C. in the amount of $81,500.00
Body
 
Dear Sir:
 
At its meeting of May 15, 2014, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 14-364-11 Proposal to Lease for 21-years approximately 5.45 acres of District real estate located at 6400 West 41st Street in Forest View, Illinois, and known as Main Channel Parcel 38.14.  The minimum acceptable annual rental bid was established at $81,500.00.
 
One bid was received for the subject proposal and was opened on July 8, 2014.  The bid was received from Heartland Recycling, L.L.C. ("Heartland") for a minimum initial annual rental bid of $81,500.00 (10% of the appraised fair market value).  Heartland's proposed use of the site under a lease is for storage of trailers, containers, heavy equipment, semi-tractors, recycled construction materials and for wood grinding and processing.
 
The Finance Department has reviewed Heartland's financial and company background information and has reported that it demonstrates the ability to meet its financial obligations under the new proposed lease.
 
It is requested that the Executive Director recommend to the Board of Commissioners that it accept the initial annual rental bid for Contract 14-364-11 Proposal to Lease for 21-years approximately 5.45 acres of District real estate located at 6400 West 41st Street in Forest View, Illinois; Main Channel Parcel 38.14 from Heartland Recycling, L.L.C. in the amount of $81,500.00.
 
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the Chairman of the Committee on Finance and the Clerk to execute the lease agreement after it has been approved by the General Counsel as to form and legality.
 
Requested, Ronald M. Hill, General Counsel, RMH:STM:CMM:ss
Recommended, Darlene A. LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Barbara J. McGowan, Chairman Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for August 7, 2014
 
Attachment